NEW YORK (Standard&Poor's) Nov. 11, 2002--Standard&Poor's Ratings Services said today that it placed its single-'A'-plus long-term corporate credit, senior unsecured debt, and senior unsecured bank loan ratings, and its single-'A' subordinated debt rating on McDonald's Corp. on CreditWatch with negative implications. The 'A-1' short-term corporate credit and commercial paper ratings were affirmed and not affected by this action. Oak Brook, Ill.-based McDonald's had about $9.6 billion of debt outstanding as of June 30, 2002. "The CreditWatch placement reflects our growing concern that McDonald's will continue to struggle in its efforts to improve its existing worldwide restaurant business," said Standard&Poor's credit analyst Gerald Hirschberg. The company recently announced that it was restructuring restaurant operations in
